Bank Loans for Sporting Goods Stores

With these bank loans for sporting goods stores, the SBA guarantees the lender that the loan will be repaid. This sporting goods stores loan for $141,136 was given to a Minnesota entrepreneur in 2002.

Getting a small business loan in Cook, Minnesota was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of The North, operating out of Cook, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
COOK, MN 55723

SBA Loan Lender

AMERICAN BANK OF THE NORTH
128 HWY 53 SE
COOK, MN 55723

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5941 - Sporting Goods Stores and Bicycle Shops

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

3/6/2002

Loan Approval Gross Amount

$141,136

Loan Approval from the SBA

Of the total $141,136 loan amount, the SBA guaranteed $119,965.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you want money for new small business in Cook MN, you ought to talk with a local Cook SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cook businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $141,136 loan. It's not easy, but why not give getting an SBA loan of your own a try?

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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SBA Banks in Cook, Minnesota

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